WAG 07-04-03: Inaccessible Assets

Irrevocable Trust Fund

Any funds in an irrevocable trust, or funds transferred to such a trust, or income produced by that trust, is inaccessible to the SNAP unit, if:

the trust arrangement is not likely to end during the approval period; and

no unit member has the power to revoke the trust arrangement or change the name of the beneficiary during the approval period; and

the trustee administering the funds is either:

a court, institution, corporation or organization which is not under the direction or ownership of any unit member, or

a person appointed by the court and the court has imposed limitations on the use of the funds; and

the trust investments do not directly involve or assist any business or corporation under the control, direction or influence of a unit member, and

the funds held in irrevocable trust are either:

from the SNAP unit's own funds and are used only to make investments on behalf of the trust or to pay the educational or medical expenses of any person named by the SNAP unit creating the trust, or

set-up from non-SNAP unit funds by a non-SNAP unit member.

Property For Sale

The Family Community Resource Center must verify that real property is for sale, and that the client has not declined a reasonable offer for the property. Verify through the local realtor listing the property or through other documentation such as an advertisement in a newspaper.

NOTE: The assets of a categorically eligible SNAP unit are exempt (PM 05-07-00).